RTL Group sees ad decline slowing in current quarter

RTL SA

13/08/2020 07:00

BERLIN, Aug 13 (Reuters) - RTL Group  RRTL.DE  said on
Thursday its revenue had declined by 28% during the second
quarter as the coronavirus pandemic hammered marketing budgets,
but that it clawed half of that back with cost cuts.
    The European broadcaster forecast the decline in TV
advertising would slow to around 10% in the third quarter from
40% in the second, but said it was still not able to reinstate
its full-year outlook.
    CEO Thomas Rabe said that RTL's broadcasters and its
Fremantle production unit had been able to resume work, while
viewing time was up and streaming subscription revenues showed
double-digit growth.
    First-half group revenue declined 16.4% to 2.7 billion euros
 ($3.19 billion), the company said, while adjusted earnings
before interest and amortization (EBITA) fell 52% to 258 million
euros. The adjusted EBITA margin declined to 9.7% from 17%.
 ($1 = 0.8465 euros)

 (Reporting by Riham Alkousaa)
 ((Riham.Alkousaa@thomsonreuters.com;))